ZETA(US:ZETA)2025-05-01 20:16Q1 2025 Results and Key Themes - Zeta's Q1 2025 revenue reached $264 million, representing a 36% year-over-year growth[8] - Adjusted EBITDA for Q1 2025 was $47 million, a 53% increase year-over-year, with a margin of 177%, a 200 bps improvement[8] - The company repurchased 16 million shares, equivalent to $25 million, in Q1, and an additional 18 million shares, or $21 million, between April 1st and April 25th[7] Customer Growth and ARPU - Total scaled customers increased to 548, a 19% year-over-year increase[10] - Super-scaled customers reached 159, a 10% year-over-year increase[10] - Scaled customer ARPU was $467K, while super-scaled customer ARPU was $14 million[10] Guidance and Targets - The company is thoughtfully conservative, increasing Q2 revenue guidance by $2 million to $297 million, up 30% Y/Y, and FY revenue guidance by $2 million to $1242 million, up 23% Y/Y[7] - Q2 Adjusted EBITDA guidance increased by $05 million to $549 million, up 42% Y/Y, and FY Adjusted EBITDA guidance increased by $2 million to $2585 million, up 34% Y/Y[7] - The company is guiding for stock-based compensation expense to be $190 million in 2025, an improvement from $195 million in 2024[7] Zeta 2028 Targets - Zeta is tracking towards its 2028 revenue target of $21 billion+ with an implied 20% CAGR[33] - The 2028 Adjusted EBITDA target is $525 million+ with an implied 25% margin[33] - The 2028 Free Cash Flow target is $340 million+ with an implied 65% conversion FCF Margin[33]